SNAPCHAT UNDER FIRE
A few days ago the company of Snapchat presented its fiscal results for the quarter of the year.
The truth is that the results are worse than imagined, causing a fall of up of 20% on the Stock Exchange. The causes are so varied that it is difficult to know which is the one has the most impact.
On the one hand lies the lost fight against the almighty Facebook, its Instagram Stories and their WhatsApp Status. Since the emergence of these two options in two of the most consolidated platforms of the moment, the Snapchat fever is losing edge.
The stagnation is especially noticeable in Europe, where the sum has been null from quarter to quarter, remaining at 57 million.
Although in North America and the rest of the world it does manage to scratch a couple of millions in both cases, the European territory shows total indifference towards the new one of Snapchat.
Here in Tanzania, Snapchat growth is nothing compare to social media platforms such as Facebook, Instagram or Youtube.
Start all over again
The reaction to this, according to Evan Spiegel himself, is an act in which they want to reinvent themselves or die in the attempt. After the blatant copies of their business model done by Facebook, they desperate need to catch the attention of the market again.
“One thing that we have heard over the years is that Snapchat is difficult to understand or hard to use, and our team has been working on responding to this feedback. As a result, we are currently redesigning our application to make it easier to use.”
We expect, therefore, changes in the coming months in the application of Snapchat, although it is not clear if this change in direction will increase the engagement and growth of the platform. So far there is much skepticism.
The Worst year in terms of growth
One of the worst commercial actions of the year, would certainly be Spectacles, the Snapchat glasses that have meant a loss of $ 40 million. Why? Basically, because it does not interest anyone. It was cool though the way they were launched, with pop-up machines that appeared from time to time in different points of the geography.
Thereafter, despite some events dedicated to selling Spectacles in physical stores and through Amazon, sales have neither come. Maybe something failed when the initial sales forecast was made.
The problems accumulate to Snapchat and the light at the end of the tunnel is pole pole fading away.